South Korea’s People Power Party proposes delaying the crypto income tax to January 2028, aiming to prevent market instability and loss of investor support. Initially set for 2022, it was postponed twice. Over 6.5M crypto users in the country. #CryptoTax #Update
South Korea’s crypto market braces for a 20% tax on gains over $1,800 starting in 2025. Major exchanges like @Upbitglobal warn of a potential drop in trading volumes. New regulations will increase scrutiny on altcoins. #CryptoTax #Update
In 2024, crypto tax tools like @CoinTracker, CoinLedger, TokenTax, and ZenLedger help investors in the U.S., U.K., Canada, Australia, and India report crypto transactions accurately. #Update #CryptoTax #Crypto
TeraWulf Inc. repaid its $77.5M term loan early, eliminating all debt. Shares surged 140% YoY, driven by AI demand. The firm plans to expand its zero-carbon energy Bitcoin mining capacity to 295 MW and focus on AI infrastructure. #Update #Bitcoin #AI
Cryptocurrency is reshaping gaming with secure, decentralized transactions. Platforms like CSDB.gg enable players to buy items, compete in tournaments, and trade NFTs, enhancing autonomy and interaction. #CryptoGaming #Update
India’s Union Budget on July 23 could bring tax relief for the crypto industry. Firms seek reduced taxes, ability to offset losses, and lower TDS from 1% to 0.01%. These changes aim to align crypto with other assets and reduce administrative burdens. #Crypto #Update
The IRS and Treasury Department have unveiled new crypto tax reporting rules requiring trading platforms to report customer gains and losses, potentially increasing IRS tax income by $28 billion over a decade. #CryptoTax #Update
The IRS and Treasury finalize new crypto tax rules, requiring trading platforms to report gains/losses, expected to increase tax revenue by $28B over a decade. Clear guidelines for custodial exchanges enhance compliance and security. #CryptoTax #Update
Felipe Argento, co-founder of @CartesiProject, highlights the rise of modular blockchain for decentralization, security, and scalability. This paradigm offers developers more control over dApp composition, promoting resilience and trust. Effective governance is key. #Blockchain #Update
The Digital Chamber has flagged privacy concerns in the IRS’s draft 1099-DA for digital assets, which demands detailed taxpayer info like wallet addresses. They urge for simpler regulations to protect user privacy and boost crypto growth. #CryptoNews
Malaysia’s Inland Revenue Board launches “Ops Token” to tackle crypto tax evasion, targeting RM1.441 trillion in transactions. 38 personnel raided 10 locations, tracing digital assets to ensure tax compliance. #CryptoTax #Update
Amazon’s first Prime Day of 2023 saw 375M items sold, showcasing web2’s vast reach. Meanwhile, sharding tech in web3 promises 100X blockchain scalability, enhancing decentralized finance, gaming, and healthcare. #Update #Web3 #Blockchain #PrimeDay2023
Ledgible launches a tax solution for tokenized assets, aligning with new IRS Form 1099-DA regulations. Partnered with @FTI_US, it streamlines compliance without altering operations. #Blockchain #TaxTech
Indiana is emerging as a key U.S. cryptocurrency mining hub with $AMZN investing $11B. Affordable electricity and major investments could drive economic growth. #Cryptocurrency #Updates
